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When China abandoned pandemic restrictions after three years of stringent controls, Nie Xingquan was expecting booming sales for his hand-made leather shoes. Instead, demand has been so poor that he’s had to cut prices 3 percent from a year ago and reduce his profits. It’s an ominous sign of the… ....
China Deflation Threat Grows as Companies Cut Prices to Survive bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
(Bloomberg) When China abandoned pandemic restrictions after three years of stringent controls, Nie Xingquan was expecting booming sales for his hand-made leather shoes. Instead, demand has been so poor that he’s had to cut prices 3% from a year ago and reduce his profits.Most Read from BloombergMusk Says He May Need Surgery, Will Get MRI on Back and NeckMoody’s Cuts US Banks on Mounting Funding Costs, Office RiskEastern US Prepares for a ‘Potent’ Storm System: Weather WatchThe Global South B ....